USD/TRY Up 226 Pips in Last 4 Hours, in an Uptrend Over Past 90 Days; Pin Bar Pattern Appearing on Chart

USD/TRY 4 Hour Price Update

Updated May 18, 2020 05:07 PM GMT (01:07 PM EST)

USD/TRY, which opened the current 4 hour candle priced near 6.8818, is up 226 pips 0.33% since the last 4 hour candle, marking a reversal from the candle prior — and the end of a 7 four-hour candle negative run. Out of the 37 instruments in the Forex asset class, USD/TRY ended up ranking 15th for the four-hour candle in terms of price change.

USD/TRY End of Day Recap

Updated 00:30 GMT (04:30 EST)

The back and forth price flow continues for USD/TRY, which started today off at 6.8912, down 80 pips 0.12% from yesterday. Relative to other instruments in the Forex asset class, USD/TRY ranked 38th yesterday in terms of percentage price change. Let’s take a look at price chart of USD/TRY.

USD/TRY Technical Analysis

Notably, the current price of USD/TRY is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Interestingly, a trend in the other direction exists on the 14 day timeframe, where price is headed down. Or to simplify this another way, note that out of the past 14 days USD/TRY’s price has gone down 8 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

The View From Around the Web

Not much commentary on USDTRY that we’re finding noteworthy here; as such, there’s not much we can say about sentiment. Here’s a piece we found on tradingview.com that we thought you might enjoy.